Lument Provides $13.9M Bridge Loan For 192-Unit Multifamily Property In Fort Worth
FINANCED
$13,900,000
Texas
See Similar DealsMultiFamily156,405 SF
Financed 08/09/2020
FINANCED
Lument Provides $13.9M Bridge Loan For 192-Unit Multifamily Property In Fort Worth
2925 West Normandale Street, Fort Worth, TX 76116
See Similar DealsMultiFamily156,405 SF
Financed 08/09/2020
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$88
Total Square Footage:156,405 SF
Transaction Type:Loan
The multifamily property located at 2925 W Normandale St in Fort Worth has recently undergone a closed transaction. The property consists of 192 units and is situated in the Fort Worth market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $13,900,000
- Address: 2925 W Normandale St
- Market: Fort Worth
- Units: 192
The loan for this transaction was provided by lument''>Lument, with John Sloot and Colin Cross representing the lender. The loan type is a bridge loan. John Brickson from Old Capital served as the broker in the deal.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$13,900,000.00
Monthly NOI$92,666.67
Monthly Debt Service$87,857.46
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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